Walt Disney (DIS) reported worse-than-estimated profit in its fiscal second quarter and slashed its semi-annual dividend in an effort to save $1.6 billion in cash as the coronavirus pandemic disrupts most of its operations.Adjusted earnings per share dropped 63% to 60 cents in the three months ended March 28, from the year earlier period, while missing the 89 cents expected by analysts. Net income from continuing operations plunged 91% to $475 million during the same comparative period.The entertainment and media giant declared that it is suspending its semi-annual cash dividend for the first half of fiscal 2020, due to the …read more
Source:: Yahoo Finance
